Tuesday, September 27, 2016

Nifty and RSI

Positive divergence in 30 min charts. Immediate up move can be expected.

Hidden positive divergence on daily charts. Again immediate up move is indicated. 
Weekly RSI is falling from an over bought zone. So we may expect the immediate short term upmove to dissipate at some point and a larger down move can take place.

There is a hint of negative divergence in the medium term. It has to further develop. At this point there is no clarity.This could mean a decline of good proportions in the medium term, if the divergence continues.
Very long term has shown a powerful hidden positive divergence. So Nifty is on her way to  take out the May 2015 highs maybe some months later.

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